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Part 2: Lessons from Batman

In honour of  The Dark Knight Rises, here is part 2 of our ‘Lessons from Batman’ article….. After all, Bruce Wayne is the wealthiest guy in (fictional) Gotham!

Last Week we looked at the importance of research and development.  This week we focus on branding and networking:

Branding – be recognisable

A cohesive brand is crucial to a successful enterprise, and that’s something Wayne understands better than most. All of Batman’s gadgets contain the symbol of a bat – even the famous police signal lights up the sky with his brand.

Creating an interesting logo and tagline, and putting it on everything you produce will re-enforce your brand in consumers memory.

Research shows younger shoppers aren’t able to identify advertising as clearly as they could in the past because of mixed branding messages across different media channels. A cohesive brand isn’t just to look cool – it’s to make sure you can maintain a consistent voice as a company.

A great support network

Bruce Wayne may work alone, but he has a full support network of allies giving him advice when he needs it, including butler and mentor, Alfred.

No business is an island, creating a strong network of suppliers and professional service firms will help you manage all tasks, especially the really difficult ones. Even Batman can’t fight crime alone, and neither can an entrepreneur do everything by themselves. A good support network is crucial to good business.

Posted on 24 July '12 by , under Business.

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What to consider when consolidating your super

The ATO reported that 45% of working Australians were not aware that they had multiple super accounts in 2016. Having multiple super accounts is particularly common for individuals who have had more than one job. If this is you, it is important to identify and manage your super accounts because having more than one can be costly as a result of account fees from multiple funds.To combat this, you may want to consolidate your super, which moves all your super into one account. Not only does this save on fees, but it also makes your super easier to manage and keep track of.

Before consolidating your super, it is important to do the following:

Research your funds' policy
Compare your active super accounts so you can make the right choice about which one you should close. Things to assess include:

  • Exit fees
  • Insurance policies
  • Investment options
  • Ongoing service fees
  • Performance of the funds

Check employer contributions
Changing funds may affect how much your employer contributes, as some employers contribute more to certain funds. Check your current accounts to see if changing funds will affect this. Once you have selected a super fund, regardless of whether you choose a new super fund or one of your existing ones, provide your employer with the details they need to pay super into your selected account.

Gather the relevant information
When consolidating your super, you will need to have the following details ready:

  • Your tax file number.
  • Proof of identity. This could include your driver's license, birth certificate or passport.
  • Your fund's superannuation product identification number (SPIN).
  • Your fund's unique superannuation identifier (USI).
  • Details of your previous fund.

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